In January, Volvo Cars reported a 10% increase in sales, totalling 53,402 vehicles, driven by a notable 40% rise in fully electric model sales in Europe. The company, primarily owned by China’s Geely Holding, highlighted a 17% overall boost in electric car sales, now representing 17% of its total sales volume. However, electric vehicle sales declined in both China and the United States.
All recharge models, also including those not fully electric, shrank 3% in total. Shares in the company were down 1% in early trade. Sales in Europe, the group’s biggest market, were up 8% in total while in the United States they were unchanged. In China, they were up 36%.
